The Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and Truck Manufacturers Association (TMA) expressed optimism that the local auto industry’s sales for this year would exceed pre-pandemic levels. Know more:
The Chamber of Automotive Manufacturers of the Philippines, Inc. and Truck Manufacturers Association expressed optimism that the local auto industry’s sales for this year would exceed pre-pandemic levels.
According to CAMPI-TMA, their sales forecast for this year is higher than the pre-pandemic levels, second only to the industry’s performance in 2017 or a year prior to the implementation of excise tax under the Tax Reform for Acceleration and Inclusion law. A joint report released by Campi and TMA on Monday indicated that new motor vehicle sales for February reached 30,905 units, higher than the 24,304 units recorded a year ago.
Among all the vehicle segments, the Asian utility vehicle, commercial vehicle, and light commercial vehicle posted gains last month. According to Gutierrez, “favorable various economic indicators are prevailing, leading to improving the overall outlook of the economy alongside increasing consumer demand for new motor vehicles.”
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